How I doubled my investment with GAW Miners Hashlets

By Josh Sherman

04 Jan 2015

2
min read

personal finance

bitcoin

I can already hear the sneers of skepticism from my readers as I write this
post. I know at least one person will fail to read the entire article and post
some shitty comment about how GAW Miners are running a crypto-Ponzi scheme. I
actually agree with them 100% but I was also able to double my investment this
past weekend before Bitcoin dropped below the 300$ mark.

“How?”, you ask? Really simple actually. I got in really fucking early and was
able to get my hands on a few Hashlet Primes as the company transitioned the
naming and payouts and all of that other scammy shit that they have been up to
as of late. For a short while I was reinvesting my payouts into purchasing
ZenHashlets and ended up with 6MH of Hashlet Primes and 5MH of the ZenHashlets.
Actual cash out of pocket was less than 150$.

Around the time the “HashStaker” came out I had already stopped reinvesting my
payouts because they just weren’t coming in at the clip they did at the
beginning. I tend to think I’m a pretty smart guy but the concept of the staker
and the new currency and all of the other changes just started to become too
damn confusing for me to keep up with. So I decided that it was about time to
just go ahead and cash out.

Because I didn’t want to wait long to sell my miners due to the falling price
of BTC, I went ahead and listed them in the ZenMiner Marketplace for below what
the lowest listings were at. Even with such a drastic undercut, I was able to
generate nearly 350$ in BTC which I promptly sold on another market for USD.
The bulk of the revenue came from my original Hashlet Primes that I bought as
it seems the ZenHashlets are next to worthless at this point.

For anyone that’s curious, I use Cryptsy for my day-to-day trading
in a variety of currencies. Feel free to use my referral link if you
are interested in checking it out for yourself. Also, if you’re looking for a
way to sell stuff for Bitcoin, please check out CoinLock. It
happens to be run by an incredibly smart friend of mine.

So that all being said, obviously YMMV on the GAW Miners / ZenMiner offerings
at this point in the game. If I had it to do over again, I would have
reinvested in Hashlet Primes instead of ZenHashlets as I probably would have
been able to squeeze another hundred bucks out of the situation.